5 myths of investing your money in Ireland

What’s holding you back from investing your money? Moneycube examines five common investing myths, and explains the reality, so you can be confident in putting your money to work.

Investing myths #1: it’s only for the rich

Top of the list is the idea that you need to start with a big sum. “Money makes money”.

In fact, technology – from Moneycube and others – is making it easier than ever before to access the kinds of investments previously the preserve of the already wealthy.

Of course, you do need some savings start investing. But with Moneycube offering access to investment funds from €250 per month, you certainly don’t have to start rich in order to put your money somewhere more productive than the bank.

#2: Investing’s complicated

Some financial companies profit by presenting investments as complicated. At Moneycube, we’re focused on showing that investing is simple.

If you can cope with some short-term fluctuations in the value of that money, you’re giving your savings a much better chance to grow than by leaving them sitting in the bank.

#3: It takes ages

Some people think it will take hours of meetings and research to start investing, or that managing investments will eat up their time.

It’s true that choosing an appropriate investment takes a little more work at the beginning than buying your morning coffee. But it’s nothing that can’t be done online, or via a couple of phone calls.

Because Moneycube helps you place your savings into professionally managed funds, managing your money is efficient and easy. It’s the job of your fund manager to look out for investment risk and growth opportunities on your behalf.

Meanwhile, Moneycube keeps you up-to-date on the value of your investments at any point via our website.

#4: Investing is gambling under another name

This is one of the easiest investing myths to dispatch. Done right, this is not a game of chance.

Certainly, both involve taking some calculated risks in the hope of gaining a return.

When you gamble, you own nothing. You just hope you’ll hit the jackpot. When you invest, you gain ownership of a share, or units in a fund, and the right to the profits when it rises in value. (Here’s a good technical analysis of the difference).

#5: You must own _____ (insert: gold/ property/ shares in Acme company)

Investing for most people isn’t about placing big bets and hoping for a miracle. It’s about building up assets in a planned way over time.

So Moneycube avoids share tips and rigid rules about what to buy.

The key is to building your wealth is to gain exposure to a broad range of assets that are appropriate for your needs, and can increase in value for you over time. Accessing multi-asset funds through Moneycube is a great way to achieve that.

By investing €250 a month you could save €17,400 in 5 years

Warning: Past performance is not a reliable guide to future performance. The value of your investments can go down as well as up and you may lose some or all of the money you invest. Investments denominated in a currency other than your base currency may be affected by changes in currency exchange rates.